Fervo Energy secures largest geothermal power deal with Google for Utah data center

Fervo Energy Co. secures its largest-ever power agreement to sell nearly 400 megawatts of geothermal electricity to Alphabet Inc.’s Google. The power, equivalent to the needs of a midsize city, will supply a prospective Google data center in Utah starting in 2028. Fervo plans to deliver this electricity from its Cape Station project in southwestern Utah, which is slated to become the world’s largest enhanced geothermal facility. Following the announcement on September 1, 2026, Fervo’s shares surge by up to 26%.

Fervo-Google geothermal power agreement

• ▪The electricity purchased by Google under the agreement is intended to power a prospective Google data center in Utah
• ▪Fervo Energy Co. signed an agreement to sell nearly 400 megawatts of geothermal electricity to Alphabet Inc.'s Google
• ▪The agreement to sell nearly 400 megawatts of electricity to Google represents Fervo Energy Co.'s largest-ever power deal

Cape Station project specifications

• ▪The nearly 400 megawatts of electricity from Fervo Energy Co.'s Cape Station project is equivalent to the amount of power needed to supply a midsize city
• ▪Fervo Energy Co. plans to begin providing electricity to Google from its Cape Station project in southwestern Utah starting in 2028
• ▪Fervo Energy Co. plans to develop the Cape Station project in southwestern Utah into the world's largest enhanced geothermal facility

Fervo stock market reaction

• ▪Shares of Fervo Energy Co. surged as much as 26% on September 1, 2026, following the announcement of the power agreement with Google
• ▪The 26% stock surge on September 1, 2026, marked the largest single-day gain for Fervo Energy Co. in more than a month

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